Setting Your Elements Payout Method

Summary: This article outlines how to set up our current payout system as well as how to set up your details and select your preferred payout method in our new payout system (which we will be rolling out in 2023).

In early 2023, we will be introducing a new payout system, offering additional payout method options for Elements Authors. Until then, we will continue to pay Authors with our current system. You can check that your current payout details in our system are correct via this link:

https://elements-contributors.envato.com/account/payout-method

• Why are we making these changes?
• How do I ensure I get paid?
• When will I receive my payout?
• What happens if I don’t get my payout?
• What if I need to change my payout information or method?
• How much do these new payout methods cost?

Why are we making these changes?

The changes to our payout experience are intended to benefit our Author community and to support our Authors in succeeding with their creative endeavors. 

One of the most common requests from Elements Authors regarding the Author payout experience was for bank transfer options on Elements.

As not everyone’s preferred method will be the same, we’ve opted to include a wider range of payout options to best support our Authors.

In addition to PayPal and Payoneer, our new payout system provides access to bank transfer as well. 

We also wanted to simplify the payout process and give our Authors more control to self-serve when making changes to account details. Under our new system, Authors will be able to add a new Payoneer account in the same way as other payout methods, reducing the need to contact Author Support. 

How do I ensure I get paid?

To make sure we can process your next payout, here’s what we need you to do.

1. Access your payout method via https://author.envato.com/profile/payment
   Alternatively, you can select ‘Payout Method’ when logged in.
2. Fill out your General Information
   Start by filling out your personal or business details.

   Once you have filled out your general information, you will be directed to select a Payout Method.
   

3. Set your Payout method
   There are several different payout methods to choose from.
   Your options are:
   
   Bank Transfer (Bank Transfer, IACH, SWIFT bank wires, USD to USD SWIFT wires, Payoneer), or
   Paypal.

Please ensure that your account holder name and the name on your bank statement are completely aligned. If they do not match, your payout may fail, and you will need to update your payout information with the correct information in order to receive your payout. 

Bank Transfer

Envato now offers bank transfers into 137 currencies, 83 of which are on local routes. These are called International ACHs (IACHs) as they use the internal banking infrastructure of a given country to bypass the SWIFT network. What this means for you; faster payouts, fewer fees.

Because conversion is done pre-sending at a fixed rate of 1.9%, earnings will land in your local currency, mitigating landing fees and variable bank FX rates. Landing times are typically within 1-2 business days, as opposed to 5 with the SWIFT network.

* Please ensure you are entering the country of your bank account.

PayPal

If you would like to nominate your PayPal account, select PayPal on the 'Select Payment Method' page and enter the email address of a valid PayPal account.

If you need to change your details and delete a PayPal account, there is a ‘delete’ option on the right hand side.

Note: If you select PayPal, you will be paid in USD.

Find out more about PayPal's consumer fees for receiving money internationally or domestically here. 

Please note: we are currently unable to send payouts to people in the Russian Federation and Belarus.

How do I select Payoneer as a payout method?

Payoneer is another way for Authors outside the U.S. to receive payouts.

You will notice that Payoneer does not appear as an option, however you can still use your Payoneer account information. 

First, you will need your Payoneer account information which you can obtain from your Payoneer account. Log into your Payoneer account:

• Navigate to Get Paid >> Receiving Accounts
• Choose your USA account 
• Under Account details you'll find your routing number (ABA), account number and bank address.
• You will need these for the below steps.

1. Log into your account.
2. Fill out your General Information 
3. Select Next
4. Then select "Bank Transfer" and select ‘United States of America’ as the bank account country. This is because you are nominating the location of your Payoneer routing account which is in the United States of America. 
5. Enter the Routing Number (ABA) from your Payoneer account.
6. Enter the Account Number from your Payoneer account
7. And finally enter the name of the account holder from your Payoneer account 

When will I receive my payout?

You’ll still be paid on the 16th of each month. This will apply to both your regular Elements earnings as well as any Incentives earnings you may be entitled to. 

Is there a minimum payout amount?

There is a $50 minimum payout amount (for each of the payout methods). If you don't reach the $50 minimum within the month, we will withhold your monies until you reach the minimum.

What happens if I don’t get my payout?

Check that all your details are correct (and that you have listed valid account details). Once you’ve confirmed your details, you can raise a support ticket.

What if I need to change my payout information or method?

If you need to make changes to your payout information, or your payout method, please do so by the 14th of the month to ensure that the updates will be reflected in your upcoming payout. Changes made after this time may not go into effect until the next pay cycle.

How much do these new payout methods cost?

We are pleased to be able to provide additional payout options at low cost.

If you have followed the above steps and still have questions, please reach out to our Author Support team.